MEXCArbitrum Surpasses Ethereum in Total Transaction Processed
Arbitrum (ARB), a Layer-2 based scaling protocol on the Ethereum blockchain has shared its latest performance report, showcasing how it surpasses the later network in terms of total transactions processed. As contained in its latest tweet, layer-2 said its Arbitrum One protocol processed a total of 1.26 million for the week.
While that may be tagged a sheer coincidence, the Arbitrum Nova layer also processed a total of 1.18 million transactions for the time under review. These figures compare to that which the main Ethereum protocol processed which came in at just 939,000.
Ethereum is considered a high performance blockchain protocol and is ranked the biggest smart contract platform in the crypto ecosystem. While its dominance remains unquestionable, transaction throughput is low and the cost of transactions is very high. Despite the latest transition to Proof-of-State (PoS) consensus model, the scalability of Ethereum still remains at a low ebb.
This flaw influenced the emergence of Layer-2 protocols like Arbitrum. There has been a prominent war amongst the L2 protocols but Arbitrum’s latest figures shows it is still in the lead. Besides the high transaction count, Arbitrum said it saw a number of new innovative protocols that launched on it.
Another important highlight that it pointed out is the launch of a job board to aid the developers within its ecosystem to land top developers to help build out their projects.
Subtle L2 War on Ethereum
While there are a number of so-called Ethereum killers in the blockchain ecosystem, the actual war worth watching out for at this time is that between the layer-2 networks resident on the Ethereum mainnet.
Besides Arbitrum, Optimism (OP), Polygon zkEVM, zkSync and Loopring (LRC) are among the top performing and functional L2s that are making waves in the industry today. While all have better scalability compared to Ethereum, their comparative advantage in terms of Transaction Per Second (TPS) and gas fees differ.
Polygon also revealed its performance report for its zkEVM sidechain recently, noting that a total transaction growth of 300% was recorded for the month of April. While each of these L2s boasts of different advantages, the aim is to help enhance the overall image of the Ethereum blockchain and this is working well thus far.
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